Asset Acceptance Capital Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale
Mar 6th 2013 11:20AM
Updated Mar 6th 2013 11:24AM
Asset Acceptance Capital Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Encore Capital Group
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Asset Acceptance Capital Corp. ("AACC") (NAS: AACC) to Encore Capital Group, Inc. for shareholders. Under the terms of the proposed transaction valued at approximately $200 million, AACC shareholders will only receive $6.50 for each share of AACC stock owned, with the option to receive the consideration in either cash or Encore stock or a combination of both. The proposed consideration is well below at least one analyst's estimated value of $8.00 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
The AACC sale investigation centers on whether AACC's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues AACC's stock, and whether AACC's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, according to Yahoo! Finance, at least one analyst has estimated that the true value of the shares may be as high as $8.00 per share. Shareholder rights attorney Patrick Powers stated that "due to proposed sale price, analysts' estimates and other factors, we are concerned that this transaction undervalues AACC's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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